Condensed financial data of Oakley Company appear below. Oakley Company Comparative Balance Sheets December 31 Assets 2020 Cash $82,300 Accounts receivable 89,400 Inventory 128.400 Investments 84,600 Equipment 252.000 Accumulated depreciation-equipment (49,700) $587,000 2019 $46,700 57,500 101,200 89,000 200,000 (41,000) $453,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $57,100 12,400 100,000 253,000 164,500 $587,000 $47,700 19.000 71,000 196,000 119,700 $453,400 Oakley Company Income Statement For the Year Ended December 31, 2020 Sales revenue Gain on disposal of plant assets $299.200 9,600 308,800 Less: Cost of goods sold Operating expenses (excluding depreciation expense) Depreciation expense Income tax expense Interest expense Net income $99.700 15,000 49,400 7.800 2,700 174,600 $134,200 Additional information: 1. 2. 3. Equipment costing $95,000 was purchased for cash during the year. Investments were sold at cost. Equipment costing $43,000 was sold for $11,900, resulting in gain of $9,600. A cash dividend of $89,400 was declared and paid during the year. 4. Prepare a worksheet for the statement of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns. (Show details of retained earnings and accumulated depreciation, do not net) CAKLEY COMPANY Worksheet-Statement of Cash Flows Reconciling! Balance Sheet Account 12/31/19 Debit Debits Totals Credits Totals Statement of Cash Flow Effects Total Totals OAKLEY COMPANY Worksheet-Statement of Cash Flows Reconciling Items Balance 12/31/19 Debit Credit 12/01/20